Brisbane estate renovation breaks city price record,
The most expensive home ever sold in Brisbane has quietly been removed from the market through a discreet deal.
The property, located at an exclusive Ascot address, is believed to have transacted for a sum of $23 million.
This sale has now set a new residential price record for Brisbane, surpassing the previous benchmark by $2.5 million.
The record was previously established last year with a sale in New Farm, which had a lower price tag.
Whispers of the sale price for 32 Sutherland Avenue have circulated among high-end property circles in Brisbane.
However, the agent handling the transaction, Ray White Ascot principal Damon Warat, has remained tight-lipped about the deal.
Warat declined to comment on the rumored price or provide any details surrounding the sale.
Nonetheless, the agency confirmed that the property has indeed sold, albeit without further elaboration.
In a brief statement, Warat remarked that “the top end is very active,” highlighting the growing demand in the Brisbane market.
He pointed to strong buyer interest, suggesting that there is significant depth in the local luxury real estate sector.
It is understood that the buyer was represented by property specialists Jordan and James Navybox from Cohen Handler.
However, the representatives chose not to provide any comments regarding the transaction or its specifics.
The Federation-style home, located close to the fashionable cafes and boutiques along Racecourse Road, underwent a lavish renovation.
This renovation was carefully planned and executed over a three-year period, enhancing the property’s appeal and value.
The new owners will have access to a championship-sized tennis court, a pool, and beautifully maintained grounds.
The property spans a generous 3035 square metres, offering a remarkable 37-metre street frontage for a grand presence.
Due to the private nature of the sale, no listing photos are available to show the current appearance.
However, previous images from its last listing on Domain in 2021 give an idea of the estate’s full scope.
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Industry sources familiar with the property suggest that it has been elevated to a whole new level of luxury.
Now officially recognized as one of Australia’s finest homes, it is a true centrepiece on Brisbane’s most prestigious street.
Ascot, located in the city’s north-east, borders the Brisbane River, offering a prime location for luxury living.
Previously, the home belonged to Ray White Group Chairman Brian White and his wife Rosemary, who raised their three sons there.
Three years ago, the couple sold the property for $10 million to a local family, marking a significant transaction.
The previous record for Brisbane’s most expensive residential sale was $20.5 million, set by Matt Lancashire of Ray White New Farm.
This record-breaking sale was for 101 Welsby Street in New Farm, a historic riverfront terrace named “Amity.”
The character-filled estate, which sold in April 2023, features 30 metres of water frontage and meticulously landscaped gardens.
The overall real estate market in Brisbane is currently experiencing significant growth and demand, especially at the luxury end.
According to the latest data from Domain, the median house price in Brisbane now stands at $994,945.
Experts expect the city’s median house price to soon surpass the $1 million mark, further fueling market optimism.
